Missing $20bn: Rep Faults Okonjo-Iweala, Alison-Madueke For Withholding Report

Missing $20bn: Rep Faults Okonjo-Iweala, Alison-Madueke For Withholding Report

A member of the House of Representatives, Moshood Mustapha, has indicted the Minister of Finance, Ngozi Okonjo-Iweala, and her Petroleum Resources counterpart, Diezani Madueke for failing to release the audit on the missing $20 billion oil money.

According to Premium Times, an audit which was undertaken by international firm, Price Water House Coopers, indicted the NNPC and recommended that the national oil company refund about $1.48billion to the Federation Account for various unreconciled transactions.

READ ALSO: Missing N30tn: SERAP Respond To Okonjo-Iweala's Attacks

Mr. Mustapha, a member of All Progressives Congress from Kwara State, is the Vice-Chairman, House Committee on Petroleum Resources.

He has described the refusal of the ministers to release the audit as “part of characteristic impunity that defines this government”.

He said: “A minister will feel she can do anything since she has a president that tolerates corruption or when she can go to the judiciary for injunctions to prevent the legislature from doing their constitutional work.

“Even if she does not honour the ultimatum issued to her to submit the audit report, we could have asked the police to arrest her but is the police independent under this administration to act rightly? But then, we allow Nigerians to see and judge them. And that’s why change is imminent come March 28. It’s not about Sarakis, Buharis, Ameachis but Nigerians’ determination to stop impunity and misgovernance."

Mr Musatapher said the lack of transparency and accountability in the Nigerian oil sector had created loopholes. He explained that several funds which could have been used for developmental purposes are often diverted to the detriment of the Nigeria populist.

He said: “Let me give you an example which many find inconsequential but which in reality affects our development drive in this country. The funds meant for operation of Petroleum Trust Development Fund (PTDF) are not being remitted. With that, many of our citizens on scholarship abroad have been abandoned and not been funded adequately. Similarly, PTDF has been stifled and finds it difficult to perform its even domestic obligations in different areas including education which is the bedrock of any development."

READ ALSO: FG Explains Why It Can’t Publish NNPC Audit Report

It would be recalled that the House of Representatives on Wednesday, February 25, issued a one week ultimatum to the Minister of Finance and Coordinating Minister of the economy, Ngozi Okonjo-Iweala to submit the report of the forensic audit. That was the second time the house asking the minister for the report.

Source: Legit.ng

Kess Ewubare avatar

Kess Ewubare Kess Ewubare is a former senior political/current affairs editor at Legit.ng. He has a diploma in-law in addition to a BSc and a master’s degree in mass communication. Kess is a journalist with over 10 years of working experience in several fields of journalism ranging from radio presenting, television news reporting, newspaper reporter, feature and magazine writing as well as online and multi-media journalism.

Online view pixel